Palm Oil Monthly Update – March 2020

USD Malaysian Crude Palm Oil volume and open interest

In February 2020, CME crude palm oil volume totaled 6,088 lots (152,200 metric tons) and the end-of-month open interest was 30,401 lots (760,025 metric tons). Volume and end-of-month OI in the first three contract months were 1,719 and 8,193, respectively.

USD Malaysian Crude Palm Oil Calendar Futures (CPO) performance:
Total Volume: 4,048 lots. Volume in the first three contract months: 919 lots.
Total End-of-Month OI: 4,581 lots. Open interest in the first three contract months: 1,533 lots.

Malaysian Palm Oil Calendar Swaps (CPC) performance:
Total Volume: 2,040 lots. Volume in the first three contract months: 800 lots.
Total End-of-Month OI: 25,820 lots. Open interest in the first three contract months: 6,660 lots."

USD Malaysian Crude Palm Oil Price and Volatility

"USD Malaysian Crude Palm Oil Futures* settles at $549.75 per metric ton in the end of February 2020, creating a -$76.00 price movement from the beginning of the month. During the month, rolling 20-Day volatility ranged from 39.5% to 58.1%, with an average of 53.4%."

Bean Oil – Palm Oil Spread and Palm Oil – Gasoil Spread Price

Bean Oil – Palm Oil (BOPO)** price increased from $42.03 per ton in the beginning of the month, to $74.38 per ton in the end of the month. The monthly movement was $32.35.

Palm Oil – Gasoil (POGO)*** decreased from $142.25 per ton in the beginning of the month, to $108.75 per ton in the end of the month. The monthly movement was -$33.50.

* Based on USD Malaysian Crude Palm Oil Futures first nearby contract month that is not in the monthly averaging period. Contract month rolls at the beginning of each month.
** Defined as the differential between CBOT Soybean Oil Futures converted into USD/MT and USD Malaysian Crude Palm Oil Futures price.
*** Defined as the differential between USD Malaysian Crude Palm Oil Futures price and European Low Sulphur Gasoil Futures.